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World’s Last Negative Rate Experiment Nears Its End in Japan

This content was published on (Bloomberg) — The Bank of Japan is widely expected to scrap the world’s last negative interest rate in the coming weeks, marking the closing act of global central banks’ grand experiment with unorthodox policies. Governor Kazuo Ueda is forecast to raise the short-term rate from -0.1% either next week or in April in what would…

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UBS Ditches Credit Suisse Plan to Phase Out Coal Financing

This content was published on (Bloomberg) — UBS Group AG is set to scrap a planned phaseout of coal financing that Credit Suisse had backed, as the global wealth manager prepares to unveil how the merged bank will tackle climate change. After months of internal debate on how to treat Credit Suisse’s climate strategy, UBS executives now intend to stick…

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Former Credit Suisse APAC Head Low Joins Private Equity Firm GIP

This content was published on (Bloomberg) — Edwin Low, Credit Suisse’s former chief executive officer for the Asia Pacific region, has joined private equity firm Global Infrastructure Partners, according to people with knowledge of the move. Low has become a partner at GIP working on emerging markets investment, the people said, asking not to be named as the information isn’t…

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India Wins $100 Billion Investment Pledge in EFTA Trade Deal

This content was published on (Bloomberg) — Sign up for the India Edition newsletter by Menaka Doshi – an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. India and four European countries signed a free trade pact that will see $100 billion invested in the South Asian country over 15 years and a…

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SNB Chief Exits After Decade of Market and Bank Drama

This content was published on (Bloomberg) — Thomas Jordan will leave the Swiss National Bank later this year after more than a decade as president, ending an era where his institution was at the heart of currency and banking turmoil that rippled around the world. Switzerland’s longest-serving central bank chief since World War II, the 61-year-old native of Biel in…

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China Is Considering Swiss Peace Talks on Ukraine, Report Says

This content was published on (Bloomberg) — China is considering taking part in a Ukraine peace conference planned by Switzerland, according to Wang Shihting, its ambassador to the European country. In an interview with the Neue Zuercher Zeitung newspaper, Wang said China is following the plans for the talks closely and is “looking into the possibility of participating.” “All parties…

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Hong Kong Weighs Extending Term of Central Banker Yue

This content was published on (Bloomberg) — Hong Kong’s government is considering keeping Eddie Yue as its de-facto central bank chief after his current term expires in October, according to people familiar with the matter. Yue, who has been leading the Hong Kong Monetary Authority since 2019, is likely to stay on the job as the government wants to avoid…

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Stocks Climb on Bets Fed, ECB Closer to Rate Cuts: Markets Wrap

This content was published on (Bloomberg) — Stocks hit all-time highs in the run-up to the US jobs report, with investors betting some of the world’s major central banks will start slashing interest rates as soon as June. Never miss an episode. Follow the Big Take podcast on iHeart, Apple Podcasts, Spotify or wherever you listen. Read the transcript. Those wagers emboldened equity bulls expecting lower borrowing…

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EQT’s Skincare Firm Galderma Sets Terms for $2.6 Billion IPO

This content was published on (Bloomberg) — Skincare company Galderma Group AG set the price range for a 2.3 billion Swiss-franc ($2.6 billion) initial public offering, in what would be the largest listing in Europe since that of Porsche AG in 2022. The shares are being marketed at 49 to 53 Swiss francs apiece through March 20, the EQT AB-backed…

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Switzerland Shows No Signs of Changing the SNB After Jordan’s Long Reign

This content was published on (Bloomberg) — Switzerland could have the best chance in years to revamp its central bank right now, if the country actually wanted it. The prospect of new management at the Swiss National Bank offers the government a rare opportunity to spruce up a famously conservative institution. Read a German version. Subscribe to our German newsletter.…

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Fed, BOJ to Lead a Week of Rate Decisions for Half the World

This content was published on (Bloomberg) — Investors may glean more on the Federal Reserve’s resolve to ease and how close Japan is to finally exiting negative interest rates as central banks set policy for almost half the global economy. The coming week features the world’s biggest agglomeration of decisions for 2024 to date, including judgments on the cost of…

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China Allows Visa-Free Travel From Four More European Countries

This content was published on (Bloomberg) — China will allow visa-free entry for travelers from more European countries in an apparent bid to attract more tourists and foreign investment. A trial program will allow nationals from Austria, Belgium, Hungary, Ireland, Luxembourg and Switzerland to enter China without a visa starting March 14, Chinese Foreign Minister Wang Yi said Thursday in…

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Skiers Head North to Snow-Sure Scandinavia as the Alps Heat Up

This content was published on (Bloomberg) — It’s just below freezing along Sweden’s western border and the sun is starting to peek out through the clouds. In the busy queue to the six-seater World Cup Express chairlift at the Stöten resort—roughly six hours’ drive from Stockholm—skiers are chatting away in Danish, Dutch, English and German. These days, more of those…

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Stock Rally Stalls in Countdown to Inflation Data: Markets Wrap

This content was published on (Bloomberg) — Wall Street traders found little encouragement to keep pushing the stock market higher at the start of a week that will bring the last inflation figures before the next Federal Reserve decision. Equities edged lower on Monday, with investors awaiting more clues on whether the recent uptick in consumer prices was just a…

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Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap

This content was published on (Bloomberg) — Stocks came under pressure as a trio of tech heavyweights fell, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress. Equities lost traction after a rally that has spurred concern about sky-high valuations — especially in megacaps, leaving the group vulnerable to big moves in the…

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Switzerland-EU Talks Will Likely Start in March, Government Says

This content was published on (Bloomberg) — Talks to revamp relations between Switzerland and the European Union will likely start this month. The dialog will start as soon as the European Commission signs off on its final negotiating mandate, “probably in the course of March 2024,” the government in Bern said in a statement on Friday. Switzerland walked away from…

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Federer-Backed On Disappoints With Sales Forecast, Results

This content was published on (Bloomberg) — Swiss sneaker maker On Holding AG forecast sales growth for this year that disappointed investors, sending shares to their biggest-ever decline. The Roger Federer-backed company also posted revenue in the last quarter of 2023 that narrowly missed analysts’ estimates.  The shares tumbled as much as 19% in early New York trading, the most…

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Ex-Credit Suisse Customers Face Grand Jury Probes Over Taxes

This content was published on (Bloomberg) — Former Credit Suisse AG customers are being investigated by federal grand jurors in Miami trying to determine whether they engaged in tax fraud, expanding a long-running US probe of the bank. The customers include a Brazilian businessman whose residence on Fisher Island, Florida, was raided by Internal Revenue Service agents in 2021 and…

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Property Elite Head to Cannes Without Much to Celebrate

This content was published on (Bloomberg) — As real estate’s great and good gather in Cannes for Europe’s biggest annual property event, there are a growing number of notable absences.  The end of the easy money era has pummeled property investing, upending business models that relied for years on cheap and plentiful debt. Now many executives who hit the jackpot…

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Signa Prime, Kuehne in Talks on Emergency Loan to Buy Time

This content was published on (Bloomberg) — Signa Prime and the holding company of logistics billionaire Klaus-Michael Kuehne are in talks about handing the insolvent property firm a lifeline as creditors meet to discuss its restructuring plan. Kuehne Holding, a Signa Prime shareholder, and some banks are considering an emergency loan for more than €100 million ($109 million), according to…

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SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR